Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said it's reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank...
The Hang Seng rose 127 points or 0.65% to close at 19,550 on Monday, marking gains for the second session amid strength across sectors. Upbeat manufacturing data from China, provided by both officials and a private survey, boosted sentiment as stimulus measures initiated in September began to take effect. Meanwhile, bets increased that the PBoC might roll out more policy easing, potentially including further reductions in the RRR and injecting more liquidity into the markets. Locally, Hong Kong's retail sales fell the least in eight months in October, with a government spokesperson saying...
European equity markets are set for a sharply lower open to start the new trading week and month, with cautious sentiment prevailing. European stocks lagged global peers in November, as concerns mounted that U.S. President-elect Donald Trump might target Europe's economy and companies with tariffs. Investors will be focused on upcoming manufacturing PMI reports from across the region, along with Italian GDP data. In corporate news, Stellantis CEO Carlos Tavares abruptly resigned on Sunday, citing "different views" with the board. In pre-market trading, Euro Stoxx 50 and Stoxx 600 futures...
The Nikkei 225 index rose 0.8% to close at 38,513, while the broader Topix index gained 1.27% to 2,715 on Monday, reversing the previous session's decline, thanks to strong gains in technology and banking stocks. Meanwhile, data showed that Japanese companies increased capital spending in the third quarter, signaling resilience in corporate confidence and reinforcing expectations that the Bank of Japan will soon raise interest rates. The top gainers in the technology and financial sectors were Disco (+1.8%), Advantest (+2.2%), Tokyo Electron (+1.4%), Mitsubishi UFJ (+1.9%) and Sumitomo...
The Dow Jones Industrial Average and S&P 500rose to new heights on Friday amid a shortened trading day that capped a strong month for equities. The S&P 500 added 0.56% to 6,032.38, while the Nasdaq Composite jumped 0.83% to 19,218.17.The Dow climbed 188.59 points, or 0.42%, to end at 44,910.65. Both the Dow and S&P 500 notched new intraday and closing highs. Some of the upward momentum came from chip stocks, which popped after Bloomberg reported that the Biden administration was considering additional barriers on the sale of semiconductor equipment to China that weren't as...
The S&P 500 rose to new heights on Friday amid a shortened trading day that will cap a strong month for equities. The broad S&P 500 added 0.7% and hit a fresh intraday high, while the Nasdaq Composite jumped 0.9%.The Dow Jones Industrial Averageclimbed 336 points, or 0.8%, on track for its first-ever close above 45,000. Some of the upward momentum came from chip stocks, which popped after Bloomberg reported that the Biden administration was considering additional barriers on the sale of semiconductor equipment to China that weren't as strong as previously expected. Lam Research...
Hong Kong stock market ended higher on Friday with the benchmark Hang Seng Index up 0.29 percent to close at 19,423.61 points. The Hang Seng China Enterprises Index rose 0.32 percent to end at 6,946.68 points, and the Hang Seng Tech Index climbed 1.06 percent to end at 4,353.55 points. Source : CTX
Japanese stocks fell after the close on Friday, as losses in the Shipbuilding, Precision Instruments and Retail sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.52%. The best performers on the Nikkei 225 were Chiba Bank Ltd (TYO:8331), which rose 4.21% or 50.50 points to trade at 1,250.50 at the close. Meanwhile, Furukawa Electric Co., Ltd. (TYO:5801) gained 3.62% or 215.00 points to close at 6,155.00 and Dai-ichi Life Holdings Inc (TYO:8750) gained 3.53% or 138.00 points to 4,051.00 in late trade. The worst performers were Nissan Motor Co., Ltd. (TYO:7201),...
European equity markets were poised to open slightly lower on Friday as investors braced for Eurozone inflation data, which could influence the European Central Bank's interest rate decision in December. Traders will also be looking at preliminary inflation figures for France and Italy, as well as retail sales data for Germany. Meanwhile, there are no major earnings releases scheduled for today. In premarket trading, Euro Stoxx 50 futures dropped 0.2%, while Stoxx 600 futures slipped 0.1%.European equity markets were poised to open slightly lower on Friday as investors braced for Eurozone...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....